IEG and Investment Evolution Abandon Cryptocurrency Venture

IEG Holdings Corporation (IEGH) has decided against pursuing cryptocurrency offerings due to potential risks. Meanwhile, Investment Evolution Coin Ltd. (IEC Ltd.), a Singapore-based company, plans to launch an IEC cryptocurrency this May, targeting Filipino overseas workers. IEC Ltd.'s sole owner, Paul Mathieson, is CEO of both IEC Ltd. and IEG Holdings; he intends to distribute IEC shares to IEG Holdings shareholders. IEG Holdings remains in the fintech space with its "Mr. Amazing Loans" brand.

IEG Holdings Corporation and Investment Evolution Coin Discontinue Cryptocurrency Venture

Las Vegas, NV, March 14, 2018 - IEG Holdings Corporation (IEGH) has announced that it will not be pursuing a cryptocurrency offering or engaging in any cryptocurrency-related ventures at this time. The decision was made after careful consideration of potential risks and benefits associated with investing in the nascent cryptocurrency space.

IEG Holdings will continue to monitor regulatory developments surrounding cryptocurrency and will consider future opportunities in this area. However, for the time being, the company will focus on its core consumer lending business.

Investment Evolution Coin Project Shelved

Investment Evolution Coin Ltd. (IEC Ltd.), a Singapore-incorporated company and wholly owned by IEG Holdings Chairman Paul Mathieson, has also discontinued plans to launch its Investment Evolution Coin (IEC) cryptocurrency. The project aimed to facilitate remittance payments for Filipino Overseas Foreign Workers in Singapore, the USA, and Australia.

IEC Ltd had entered into a consulting agreement with Hashcash Consultants to implement and launch the IEC cryptocurrency. The targeted launch date was May 2018, subject to regulatory approvals. However, the project has now been indefinitely shelved.

Mathieson to Offer IEG Holdings Shareholders IEC Shares

Despite the discontinuation of the cryptocurrency project, Mathieson intends to provide each IEG Holdings shareholder with an opportunity to receive the same number and percentage of ordinary shares in IEC Ltd as their current holdings in IEG Holdings.

To receive the IEC shares, IEG Holdings shareholders must provide certain identifying information to satisfy anti-money laundering requirements associated with the planned IEC cryptocurrency.

About IEG Holdings Corporation

IEG Holdings Corporation is an SEC-reporting fintech company that offers unsecured consumer loans of $5,000 and $10,000 under the brand name "Mr. Amazing Loans" through its website and online application portal. IEG Holdings operates as a direct lender in 20 US states and originates, processes, and services all loans from its centralized Las Vegas head office.

Forward-Looking Statements

This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Investors are cautioned not to place undue reliance on forward-looking statements.

IEG Holdings assumes no obligation to publicly update or revise these forward-looking statements, even if new information becomes available in the future.

Additional Information

The contents of IEG Holdings' website referenced in this press release are not incorporated herein.